The future value of an investment is $60955.88 dollars. If it is invested at 3.9% simple interest for 4 years, what is the present value?

Using $LaTeX: \displaystyle FV = PV(1+r \cdot t) \iff PV = \frac{FV}{1+rt}$ . Evaluating the formula gives $LaTeX: \displaystyle PV = \frac{60955.88}{1 + (0.039)(4)} = 52730.00$ .